Mair Property Funds has moved to sell a leased large format retail asset in Perth’s northern suburb of Malaga.
Prominently positioned within one of Perth’s leading commercial precincts, the 738 Marshall Road property comprises two showroom/warehouses totalling approximately 3,215sqm net lettable space.
The property, positioned on a 7,575sqm landholding, is anchored by Kambo’s Electrical – one of WA’s leading electrical specialists with several locations across the state. The property currently provides a total passing income of $473,889 per annum.
CBRE’s Geoff Fraser and Jack Divitini have been appointed to sell the property via an Offers to Purchase campaign.
Mr Fraser said the property’s position would be a key selling factor.
“This property represents a high quality investment in an established and proven commercial industrial precinct,” Mr Fraser said.
Commenting on the attractive tenancy profile, Mr Divitini said the secure lease offered with the property would attract strong interest from investors.
“Not only does it offer security of immediate income, but the property’s strategic northern location and high profile main road exposure will ensure it remains an attractive option in the leasing market,” Mr Divitini explained.
The property is located on a prime corner site fronting Marshall Road, with a strong calibre of nearby retailers including Bunnings, Officeworks, Harvey Norman, The Good Guys and City Farmers.
Mr Divitini added that recent take up of land in the Freeway Industrial Estate nearby would have a positive impact on capital growth in the future development of the Malaga area.
The property is being offered for sale via Offers to Purchase closing April 6.
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